Lion EA

Dad may be maxing out his credit cards &/or receiving child support from Mom &/or gifts from his own parents. You'll have to run the numbers through the worksheet to see what it tells you.

If the properties were purchased with funds in his IRA from deductible contributions, then he has no basis. If he has basis in his IRA -- his IRA as a whole, all IRA accounts of that type, traditional since it dates back to the 80s -- the a proportional amount of basis would be applied to this distribution if it is less than a total distribution. See his Forms 8606 for his basis information, if any.

Did they not get the full benefit last year, due to AMT or whatever, so not all is taxable this year?

Not using ATX so just guessing, but does it have the starting date of her Roth so it knows it's been over five years? Does it know it's a Roth?

If the estate receives the property formerly owned by the deceased, doesn't the estate use the new stepped-up or -down basis? If the estate distributes the property to the beneficiaries, then they use the new basis.

My internist group is going to concierge medicine with a monthly retainer from all clients they accept and will no longer accept any insurance reimbursements or government monies. Their monthly fee is way over my head. They are following the lead of several other medical groups in this county. I have started calling around, but so far haven't found an internist who will accept new patients. Fewer doctors and longer waits or higher fees. So it begins!

Not from GA, but you client is definitely NR.

They have children, right?

I think so. Don't think a partnership can be a shareholder in a Sub S Corp, but think a Sub S Corp can be a partner in a partnership. Someone who's researched this recently will jump in.

Thank you, Eric. I do find it helpful to find out why or how something worked the way it did. Even an old dog like me learns new tricks each tax season, so maybe I can pick up a technical tip or two that helps me out in the future! Thanks for taking the time to explain it to me.:scratch_head:

Oh, gosh, and repairmen can charge more to go to a house without a proper certificate and...

I'm so sorry! I don't have any experience with this so can't offer help or steps to take, but wanted to sympathize. Do contact your client and have him copy you on his progress paying off his debt. And, maybe start with the practitioners' hotline for the steps to follow. I would want a paper copy of the release of lien for my records. Keep us posted. Someone who works more with collections and representation and our former IRS agents will jump in and offer practical advice soon.

Wow. A collection of great people.

Thanks so much, Gail. On the member page, it's a family pic from my 60th with my son Rob and Steve's daughter Alex (2nd marriage for Steve and me). New avatar (only when we each refresh one by one apparently!) is Rob with his long-time girlfriend/brand new fiancee HB. HB and Alex and my father all share the same birthday, 19 July. Rob's fiancee is HB Schwartz, and Alex's boyfriend is Kyle Swartz. Eerie.

You may have to do MFS for one or more states. (CT requires it if both spouses did not reside in the state substantially the same length of time, as happens when couples marry and move to join the other - even with federal MFJ.) I think she's PY NJ and PY MA. He's PY NY, nonresident NJ, and PY MA. I remember the funky NJ forms requiring two different returns for the same person who moved out of state, the NR and PY returns were separate instead of like NY's NRPY form. So, in your case with two separate people, one NJ PY and the other NJ NR, I don't know how that will work on the NJ forms. My NJ commuters retired to FL, so I don't have current clients with NJ issues. Hope we get NJ preparers to weigh in or a NY with lots of commuters!

Yeah, I seemed to be able to get the family pic on the member page easily. Then, trying to change Alex in the UConn marching band (she graduated anyway) to Rob and his brand new fiancee/long-time girlfriend as my avatar on posts seemed to be a more complex change. I can now see it. Eric had me press F5 to refresh. Don't know if it appears for all of you. I guess computers don't like change any more than we tax preparers do!

Sure enough, Eric. I'd closed Firefox and even rebooted my computer. But once I remembered that F5 is refresh, there's the picture! Thank you very much for your help and advice. :D

Welcome back. I left ATX when they pulled that stunt. But, I immediately joined this board that Eric and KC got up and running in days, maybe hours, and have stayed here for the people with great tax advice and a laugh or two and sympathetic ears when I need to vent. Come on in; the water's fine! B)

Just emailed the picture as an attachment to you. Thanx, Eric.

She's a sweetie that knew Rob all through school. But, they didn't start dating until they went away to different colleges. I just finished her tax return. Now on to a paying client.

I guess I don't know how to post a photo here...

He got down on one knee last night when the local TV station was at their Inn! Rob's a manager and HB is the executive chef at The Inn at Starlight Lake in PA. He'd asked her dad's blessing and talked to the camera person. (HB's parents own the Inn.) The segment will air next Tuesday evening. I'm a three-hour drive away, but hope to see his proposal -- and her acceptance -- on the TV website next week. He called me about his tax return and told me this is the last time they'll be filing as single! Trying to get a picture of them as my avatar.

Hey, Eric or KC. I can't change my avatar. I want to use a .jpg on my computer, only about 60 KB. I use browse and the address shows in the box. Then, it either stays the same (Alex playing flute) or the same stretched wider, or nothing. But, I can't seem to upload a different picture to use as an avatar. I tell it to remove the old one; and I tried not removing the old but uploading the new. In fact, the old one is stubbornly there even though I have supposedly removed it many times. Now, I just changed my signature and added a family picture on my profile, but this avatar is stuck! Want to post my son and his new fiancee. Thanks for any help.

Changing only one thing at a time. New signature is here. Now to try the picture/avatar again!

Well, neither saved. Back to the drawing board.:scratch_head: